http://www.latimes.com/business/la-fi-china-housing-bubble-20111213,0,3429813.story
1. RE can never go down
2. Demand is more
3. Middle Class is buying
Sounds familiar?!!!
These are the reasons attributed in China by mad investors and builders for selling/buying property.
Excerpts from the article:
Home prices nationwide declined in November for the third straight month, according to an index of values in 100 major cities compiled by the China Index Academy, an independent real estate firm. Average prices in the Shanghai area are down about 40% from their peak in mid-2009, to about $176,000 for a 1,000-square-foot home.
1. RE can never go down
2. Demand is more
3. Middle Class is buying
Sounds familiar?!!!
These are the reasons attributed in China by mad investors and builders for selling/buying property.
Excerpts from the article:
Home prices nationwide declined in November for the third straight month, according to an index of values in 100 major cities compiled by the China Index Academy, an independent real estate firm. Average prices in the Shanghai area are down about 40% from their peak in mid-2009, to about $176,000 for a 1,000-square-foot home.
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